153: 20 Deals in a Year as a Professional Basketball Player w/ Terry Harris

Feb 2, 2022

55:30

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Real estate requires a lot of self-motivation and discipline to succeed. Successful investors know that nothing happens overnight and nothing comes to you easily. Today’s guest, Terry Harris, had the perfect amount of drive and persistence when he began his real estate journey. He now owns five properties and has closed twenty wholesale deals.

Terry started getting into real estate when he came to terms with his G League contract only lasting about six months. He wasn’t sure what to do with his free time until he picked up The Book on Rental Property Investing and started listening to BiggerPockets. He started bringing books with him on the road and while his teammates teased him for always having his nose in a book, it was during those rides that he decided he was going to buy a house. He bought his first house and while it didn’t go as planned at all, the house appraised for double the price and he was beyond proud of himself for seeing it through. One of the hardest things for him during his first deal was the lack of community he felt, but he filled that gap by relying on the BiggerPockets community.

Unfortunately, COVID quickly put a pause on him investing in any other properties, but Terry didn’t let that stop him. He moved to LA for basketball and began looking into another aspect of investing—wholesaling. After practice, he began dedicating an hour to driving around looking for vacant properties and listening to podcasts. He started cold calling and while he missed out on a big potential first deal, he did twenty successful deals after that. While he has found success in wholesaling and enjoyed it, he wants to now transition into investing in more properties himself and gain a more passive income.

In This Episode We Cover

How to use FHA loans and seller credits to help you purchase properties

Succeeding in real estate without a strong support system and building your investor community

The importance of cold calling and how to add it into your busy schedule

Saving vs splurging and how to encourage yourself to funnel more money into investments

Wholesaling land and the three indicators of a successful land deal

And So Much More!

Links from the Show

Real Estate Rookie Youtube Channel

Ashley's Instagram

Tony's Instagram

Real Estate Rookie Facebook Group